WTO RETURNS TO “LAW OF THE JUNGLE” AS APPEALS COURT CEASES TO FUNCTION

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The WTO’s Appellate Body, which has the final say on trade disputes, ground to a halt today after the U.S. blocked the appointment of further judges to its panel. This impasse opens the way for the biggest economies to take “a go-it-alone approach,” warns Pictet Asset Management chief economist Patrick Zweifel. “We are back in the law of the jungle,” he says.
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